Veeva Systems Inc. (VEEV) Price Target Increased to $45.00 by Analysts at Stifel Nicolaus
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Veeva Systems from a buy rating to a hold rating in a research report on Monday, September 5th. Bank of America Corp. began coverage on Veeva Systems in a research report on Friday, June 17th. They issued a neutral rating and a $40.00 price target for the company. Needham & Company LLC boosted their price target on Veeva Systems from $38.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, August 31st. Morgan Stanley reissued a buy rating and issued a $44.00 price target on shares of Veeva Systems in a research report on Tuesday, August 16th. Finally, Canaccord Genuity boosted their price target on Veeva Systems from $35.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, August 31st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $41.08.
Veeva Systems (NYSE:VEEV) opened at 41.28 on Friday. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $42.58. The company has a market cap of $5.62 billion, a P/E ratio of 111.57 and a beta of 1.58. The stock has a 50 day moving average price of $40.26 and a 200 day moving average price of $33.46.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, equities research analysts anticipate that Veeva Systems will post $0.60 EPS for the current fiscal year.
In other news, CFO Timothy S. Cabral sold 35,875 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $39.90, for a total value of $1,431,412.50. Following the sale, the chief financial officer now owns 20,000 shares in the company, valued at $798,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 42,441 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $41.42, for a total value of $1,757,906.22. The disclosure for this sale can be found here. Company insiders own 19.17% of the company’s stock.
Several hedge funds have recently modified their holdings of VEEV. Huntington National Bank bought a new stake in shares of Veeva Systems during the second quarter worth approximately $101,000. FineMark National Bank & Trust increased its stake in shares of Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock worth $104,000 after buying an additional 346 shares during the last quarter. DIAM Co. Ltd. bought a new stake in shares of Veeva Systems during the second quarter worth approximately $170,000. Denver Investment Advisors LLC bought a new stake in shares of Veeva Systems during the second quarter worth approximately $204,000. Finally, Legal & General Group Plc increased its stake in shares of Veeva Systems by 38.0% in the first quarter. Legal & General Group Plc now owns 6,367 shares of the company’s stock worth $160,000 after buying an additional 1,752 shares during the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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